The holiday season is upon us, and small businesses have an opportunity to take advantage of pent-up demand and the overall rebound of the American economy in the post-Covid world. Consumers are ready to spend, and Small Business Saturday promotions will help lure holiday shoppers back to brick-and-mortar stores.
Small business owners have much to be thankful for in 2021, compared to a year ago. Restrictions placed on businesses have eased, and people are willing to travel and spend again. Although an estimated 30% of small businesses closed during the pandemic and never recovered, the majority of small firms have gotten back on track. Some have even thrived…
Holiday sales in November and December have averaged almost 20% of annual retail sales over the last five years, according to the National Retail Federation, and the figure can be higher for some retailers. NRF expects that online and other non-store sales, which are included in the total forecast, will increase between 11% and 15% to a total of between $218.3 billion and $226.2 billion. By comparison, that number is up from $196.7 billion in 2020.
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